US demand for oil grew by more than China’s last year for the first time since 1999, according to the International Energy Agency, giving the strongest indication of how abundant energy supplies are driving an economic resurgence in the US.
The IEA – the developed world’s energy body whose forecasts are the gold standard for the energy market – said US oil demand rose by 390,000 barrels a day last year, or 2 per cent, reversing years of steady decline. Chinese demand rose by 295,000 b/d, the weakest in at least six years...................................Full Article: Source